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TOMITA ELECTRIC CO.,LTD., First Half Ordinary Profit Turns to Loss, 2Q (May-July) Ordinary Profit Loss Widens

Mon Sep 9, 2024 4:00 pm JST Earnings

6898 TOMITA ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

TOMITA ELECTRIC CO.,LTD. <6898> [TSE-S] announced its financial results after the market closed on September 9th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending January 2025 (February to July) turned into a loss of 69 million yen (compared to a break even in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the August to January period (second half) is expected to turn into a profit of 105 million yen (compared to a loss of 23 million yen in the same period last year).

In the most recent three-month period, from May to July (2Q), the consolidated ordinary loss expanded to a loss of 42 million yen (compared to a loss of 23 million yen in the same period last year). The operating profit/loss margin drastically worsened from -2.8% in the same period last year to -12.0%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Feb - Jul, 2022 1,105 166 158 113 172.6 113.7 Sep 7, 2022 J-GAAP
Feb - Jul, 2023 810 7 0 9 14.9 ー Sep 8, 2023 J-GAAP
Feb - Jul, 2024 721 -78 -69 -73 -95.6 ー Sep 9, 2024 J-GAAP
YoY -11.0% － － － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2024 Guidance 721 -78 -69 -73 -95.1 0 Sep 2, 2024 J-GAAP
Feb - Jul, 2024 Results 721 -78 -69 -73 -95.6 0 Sep 9, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% -0.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 682 -34 -23 -42 -60.4 0 Mar 15, 2024 J-GAAP
Aug - Jan, 2024 Guidance 909 114 105 102 130.6 0 Sep 2, 2024 J-GAAP
YoY +33.3% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 2,004 143 139 95 144.7 0 Mar 15, 2023 J-GAAP
Jan, 2024 1,492 -27 -23 -33 -47.5 0 Mar 15, 2024 J-GAAP
Jan, 2025 Guidance 1,630 36 36 29 37.1 0 Mar 15, 2024 J-GAAP
YoY +9.2% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2023 400 -11 -23 -12 -19.8 -2.8 Sep 8, 2023 J-GAAP
Aug - Oct, 2023 351 -34 -31 -45 -65.0 -9.7 Dec 8, 2023 J-GAAP
Nov - Jan, 2023 331 0 8 3 4.3 0.0 Mar 15, 2024 J-GAAP
Feb - Apr, 2024 322 -30 -27 -28 -37.4 -9.3 Jun 7, 2024 J-GAAP
May - Jul, 2024 399 -48 -42 -45 -58.9 -12.0 Sep 9, 2024 J-GAAP
YoY -0.3% -336.4% -82.6% -275.0% -197.6%

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